<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB

(Mark One)

[X]      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2000

                                       OR

[ ]      TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
                  SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______________ to _____________

                        Commission file number: 001-13749

         FINITY HOLDINGS, INC., formerly known as COLUMBIA CAPITAL CORP.
--------------------------------------------------------------------------------
            (Name of small business issuer specified in its charter)

           Delaware                                              11-3210792
---------------------------------                             ---------------
(State or other jurisdiction                                  (I.R.S. Employer
of incorporation or organization)                            Identification No.)

                   1157 North 5th Street, Abilene, Texas 79601
                   -------------------------------------------
          (Address of principal executive offices, including zip code)

                                  915-674-3110
                      ------------------------------------
                (Issuer's telephone number, including area code)


                    ----------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report)

Check whether the issuer: (i) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (ii) has been
subject to such filing requirements for the past 90 days. Yes X No -----

The number of shares outstanding of the issuer's Common Stock as of June 30,
2000 was 48,511,512 shares.

Transactional Small Business Disclosure Format (Check one):   Yes [ ]    No [X]

                                       i
<PAGE>

         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements.

<PAGE>
<TABLE>

                                  COLUMBIA CAPITAL CORP.
                                CONSOLIDATED BALANCE SHEETS
                               JUNE 30, 2000 (UNAUDITED) AND
                                DECEMBER 31, 1999 (AUDITED)
<CAPTION>

                                                                             June 30,            December 31,
                                    ASSETS                                     2000                  1999
                                                                           (Unaudited)             (Audited)
                                                                          ---------------      ---------------
<S>                                                                       <C>                  <C>
Current assets
     Cash and cash equivalents                                            $    1,081,571       $    2,133,740
     Interest bearing deposits with banks                                        501,000              501,000
     Accounts receivable, net                                                  1,060,168              319,079
     Prepaid expenses and other assets                                           377,967              337,468
     Federal income tax receivable                                                     -              556,774
                                                                          ---------------      ---------------
         Total current assets                                                  3,020,706            3,848,061

Property and equipment                                                         1,817,687            1,812,720
     Less accumulated depreciation                                               771,387              607,163
                                                                          ---------------      ---------------
         Net property and equipment                                            1,046,300            1,205,557

Other assets
     Deferred tax asset                                                          400,967              400,967
     Other assets                                                                 90,000               90,000
                                                                          ---------------      ---------------
         Total other assets                                                      490,967              490,967
                                                                          ---------------      ---------------

            TOTAL  ASSETS                                                 $    4,557,973       $    5,544,585
                                                                          ===============      ===============


                     LIABILITIES AND SHAREHOLDERS' EQUITY

LIABILITIES
     Accounts payable                                                     $    1,472,360       $    2,163,382
     Accrued expenses and other liabilities                                      804,544              476,457
     Current portion of note payable - American State Bank                        13,055               12,441
     Notes payable - related party                                                     -                    -
     Accrued interest payable                                                     29,275                    -
                                                                          ---------------      ---------------
         Total current liabilities                                             2,319,234            2,652,280

     Long term portion of note payable - American State Bank                     122,348              124,847
                                                                          ---------------      ---------------
         Total liabilities                                                     2,441,582            2,777,127

SHAREHOLDER'S EQUITY
     Common stock , $.001 par value; 100,000,000 shares authorized;
         48,511,512 issued and outstanding June 30, 2000
         38,511,512 issued and outstanding December 31, 1999                      48,512               38,512
     Additional paid-in capital                                                7,881,096            5,891,096
     Accumulated deficit                                                      (5,813,217)          (3,162,150)
                                                                          ---------------      ---------------
         Total shareholders' equity                                            2,116,391            2,767,458
                                                                          ---------------      ---------------

            TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY                    $    4,557,973       $    5,544,585
                                                                          ===============      ===============


The accompanying notes are an integral
part of these consolidated financial statements
</TABLE>

<PAGE>
<TABLE>

                                            COLUMBIA CAPITAL CORP.
                               CONSOLIDATED STATEMENTS OF OPERATION - UNAUDITED
<CAPTION>


                                                       For the Three Months                    For the Six Months
                                                          Ended June 30,                         Ended June 30,
                                                -----------------------------------    ----------------------------------
                                                     2000                1999               2000               1999
                                                ---------------     ---------------    ---------------    ---------------
<S>                                             <C>                 <C>                <C>                <C>
REVENUE
     Credit card revenue                        $      311,214      $      843,063     $      600,830     $    3,516,332
     Mail operations revenue                            10,156              24,751             22,498            173,520
     Merchant processing fees                          216,809             329,617            510,692            356,691
     Other                                                  57              63,654                293            222,446
                                                ---------------     ---------------    ---------------    ---------------
         Total operating revenue                       538,236           1,261,085          1,134,313          4,268,989

EXPENSES
     Salaries and employee benefits                    769,674             795,109          1,516,377          1,715,292
     Equipment and software lease                      432,275             877,205            864,224          1,475,727
     Facilities rent                                    71,371             100,341            142,743            201,182
     Repair and maintenance                             93,209             116,377            176,152            253,839
     Depreciation                                       82,181              99,607            164,224            189,282
     Amortization of goodwill                                -              12,174                  -             24,348
     Computer and office supplies                       32,013              68,935             60,299            164,722
     Telephone                                          86,747              69,810            169,053            148,744
     Professional and outside services                 124,813             121,022            253,722            453,929
     Travel and entertainment                           49,921              19,087             99,355             41,562
     Other operating                                   151,874             200,024            305,799            632,659
                                                ---------------     ---------------    ---------------    ---------------
         Total operating expenses                    1,894,078           2,479,691          3,751,948          5,301,286
                                                ---------------    ----------------   ----------------   ----------------

LOSS FROM OPERATIONS                                (1,355,842)         (1,218,606)        (2,617,635)        (1,032,297)

Other income (expense)
     Interest income                                    10,822              13,639             20,136             24,060
     Interest expense                                  (41,611)            (24,712)           (53,568)           (49,322)
                                                ---------------     ---------------    ---------------    ---------------
         Total other income (expense)                  (30,789)            (11,073)           (33,432)           (25,262)
                                                ---------------     ---------------    ---------------    ---------------

LOSS BEFORE TAX                                     (1,386,631)         (1,229,679)        (2,651,067)        (1,057,559)

     Income tax expense (benefit)                            -            (426,006)                 -           (357,519)
                                                ---------------     ---------------    ---------------    ---------------

NET LOSS                                        $   (1,386,631)     $     (803,673)    $   (2,651,067)    $     (700,040)
                                                ===============     ===============    ===============    ===============

Basic loss per share                            $        (0.04)     $        (0.06)    $        (0.07)    $        (0.05)
                                                ===============     ===============    ===============    ===============

Diluted loss per share                          $        (0.03)     $        (0.06)    $        (0.06)    $        (0.05)
                                                ===============     ===============    ===============    ===============
</TABLE>
The accompanying notes are an integral
part of these consolidated financial statements


<PAGE>
<TABLE>

                                                 COLUMBIA CAPITAL CORP.
                               CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY
                                             JUNE 30, 2000 (UNAUDITED) AND
                                              DECEMBER 31, 1999 (AUDITED)


                                       Common Stock
                                 -------------------------        Paid-In       Accumulated
                                   Shares         Amount          Capital        (Deficit)        Total
                                 ------------   ------------    ------------    ------------    ------------
<S>                              <C>            <C>             <C>             <C>             <C>
BALANCE - DECEMBER 31, 1998       12,765,000    $    12,765     $ 1,990,715     $   882,936     $ 2,886,416

     Issuance of common stock     25,746,512         25,747       3,425,381               -       3,451,128
     Acquisition of Fi-Scrip               -              -         475,000        (813,469)       (338,469)
     Net loss                              -              -               -      (3,231,617)     (3,231,617)
                                 ------------   ------------    ------------    ------------    ------------

BALANCE - DECEMBER 31, 1999       38,511,512         38,512       5,891,096      (3,162,150)      2,767,458

     Issuance of common stock     10,000,000         10,000       1,990,000               -       2,000,000
     Net loss                              -              -               -      (2,651,067)     (2,651,067)
                                 ------------   ------------    ------------    ------------    ------------

BALANCE - JUNE 30, 2000           48,511,512    $    48,512     $ 7,881,096     $(5,813,217)    $ 2,116,391
                                 ============   ============    ============    ============    ============
</TABLE>

The accompanying notes are an integral
part of these consolidated financial statements

<PAGE>
<TABLE>

                             COLUMBIA CAPITAL CORP.
                CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

<CAPTION>

                                                           For the Three Months             For the Six Months
                                                              Ended June 30,                  Ended June 30,
                                                       ----------------------------    ----------------------------
                                                           2000            1999            2000            1999
                                                       ------------    ------------    ------------    ------------
<S>                                                    <S>             <C>             <C>             <C>
CASH FLOWS FROM OPERATING ACTIVITIES
   Net loss                                            $(1,386,631)    $  (803,673)    $(2,651,067)    $  (700,040)
   Adjustments to reconcile net income to
     net cash provided by operations
       Depreciation and amortization                        38,222          50,396         164,224         213,630
       Deferred income taxes                                     -            (922)              -           7,531
     (Increase) decrease in
       Accounts receivable                                 (25,208)       (199,048)       (184,315)         14,568
       Prepaid expenses and other assets                    14,616          46,047         (40,499)          9,147
       Increase in accruals and accounts payable        (1,726,268)        841,206        (333,660)        915,148
                                                       ------------    ------------    ------------    ------------
Net cash (used in) provided by operating activities     (3,085,269)        (65,994)     (3,045,317)        459,984

CASH FLOWS FROM INVESTING ACTIVITIES
  Proceeds from sale of fixed assets                        40,917          50,206               -               -
  Purchase of fixed assets                                       -               -          (4,967)       (111,833)
                                                       ------------    ------------    ------------    ------------
Net cash used in investing activities                       40,917          50,206          (4,967)       (111,833)

CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from line of credit, net of payments           (504,372)         (4,708)         (1,885)        266,947
  Issuance of common stock                               2,000,000               -       2,000,000          17,000
  Cash and cash equivalents received in
     acquisition of Fi-Scrip                                     -               -               -         413,216
                                                       ------------    ------------    ------------    ------------
Net cash provided by (used in) financing activities      1,495,628          (4,708)      1,998,115         697,163
                                                       ------------    ------------    ------------    ------------

NET (DECREASE) INCREASE IN CASH
     AND CASH EQUIVALENTS                               (1,548,724)        (20,496)     (1,052,169)      1,045,314

Cash and cash equivalents at beginning of period         2,630,295       1,334,210       2,133,740         268,400
                                                       ------------    ------------    ------------    ------------

CASH AND CASH EQUIVALENTS AT JUNE 30,                  $ 1,081,571     $ 1,313,714     $ 1,081,571     $ 1,313,714
                                                       ============    ============    ============    ============

SUPPLEMENTAL DISCLOSURE
  OF CASH FLOW INFORMATION:
     Interest paid                                           1,887           9,937          24,293          49,322
     Taxes paid                                                  -         436,000               -               -
</TABLE>


The accompanying notes are an integral
part of these consolidated financial statements

<PAGE>
NOTE 1:  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

         PRINCIPLES OF CONSOLIDATION

         The accompanying consolidated financial statements include the accounts
         of Columbia Capital Corp. (the Company) and its wholly-owned
         subsidiaries, Finity Corporation ("Finity") and Fi-Scrip, Incorporated
         (Fi-Scrip). Intercompany accounts and transactions have been
         eliminated.

         ORGANIZATION AND NATURE OF OPERATIONS

         The Company was organized under the laws of the State of Delaware on
         February 5, 1993. The Company completed a private offering of its
         common stock in November 1993 (See Note 2).

         Finity, formerly known as First Independent Computers, Inc. ("FICI"), a
         Texas corporation, was incorporated on October 21, 1983, pursuant to
         the provisions of the Texas Business Corporation Act. FICI changed its
         name to Finity by amendment to its articles of incorporation effective
         March 1, 2000. Finity's business activities include the processing of
         credit card purchases for numerous businesses in various industries
         throughout the United States and data processing for various banks.

         Fi-Scrip, a Nevada corporation, engages in the financial services
         business by marketing computer processing services for automated teller
         machines transactions, debit terminal transactions and electronic
         benefits transfer system transactions. Fi-Scrip contracts with
         merchants and independent service organizations for deployment of
         terminals and services.

         MANAGEMENT REPRESENTATION

         Management believes the financial statements include all adjustments
         necessary in order to present a fair presentation and ensure that the
         financial statements are not misleading.

         CASH AND CASH EQUIVALENTS

         The Company considers investments with an original maturity of three
         months or less to be cash equivalents.

         USE OF ESTIMATES IN THE PREPARATION OF FINANCIAL STATEMENTS

         The preparation of financial statements in conformity with generally
         accepted accounting principles requires management to make estimates
         and assumptions that affect the reported amounts of assets and
         liabilities and disclosure of contingent assets and liabilities at the
         date of the consolidated financial statements and the reported amounts
         of revenues and expenses during the reporting periods. Actual results
         could differ from those estimates.

<PAGE>

NOTE 1:  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

         ACCOUNTS RECEIVABLE

         The Company utilizes the allowance method for uncollectible accounts
         receivable. Management estimates the uncollectible accounts and
         provides for them in the allowance. The balance of the allowance for
         uncollectible accounts was $20,000 at June 30, 2000 and December 31,
         1999.

         REVENUE RECOGNITION

         The Company recognizes revenue when services have been provided to the
         customer.

         PROPERTY, PLANT AND EQUIPMENT

         Fixed assets of the Company are reported at historical cost.
         Depreciation and amortization on assets purchased are computed by the
         following methods and useful lives:

                Furniture and fixtures          Straight-line           5 years
                Electronic equipment            Straight-line         5-7 years
                Automobiles                     Straight-line         3-5 years
                Office equipment                Straight-line           5 years
                Computer software               Straight-line           3 years

         Depreciation is computed using the straight line method over the
         estimated useful lives for financial statement purposes and an
         accelerated method of cost recovery over statutory recovery periods for
         tax purposes. Repairs and maintenance are expensed, whereas additions
         and improvements are capitalized.

         PREPAID ASSETS

         The Company has expenditures which benefit future periods which are
         recorded as prepaid assets or deferred costs and are amortized on a
         straight-line basis over the estimated or known period of benefit. Such
         prepaid assets and deferred costs include prepaid insurance,
         maintenance contracts, certain software licenses and supplies used in
         the normal operation of business.

         FEDERAL INCOME TAXES

         Deferred tax assets and liabilities are recognized for deductible and
         taxable temporary differences respectively. Temporary differences are
         the differences between the reported amounts of assets and liabilities
         and their tax bases. Deferred tax assets may be reduced by a valuation
         allowance when and if, in the opinion of management, the tax asset
         will, in part or in all, not be realized. Deferred tax assets and
         liabilities are adjusted for the effects of changes in tax laws and
         rates on the date of enactment.

<PAGE>

NOTE 1:  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

         PER SHARE DATA

         In February 1997, Statement of Financial Accounting Standards (SFAS)
         No. 128, EARNINGS PER SHARE was issued. Under SFAS 128, net earnings
         per share (EPS) are computed by dividing net earnings by the weighted
         average number of shares of common stock outstanding during the period.
         SFAS 128 replaces fully diluted EPS, which the Company was not
         previously required to report, with EPS, assuming dilution. The Company
         adopted SFAS 128 effective December 31, 1998. The effect of this
         accounting change on previously reported EPS data is not significant.

         The computation of basic (loss) earnings per share of common stock is
         based on the weighted average number of shares outstanding for the six
         months ended June 30, 2000 and 1999 of 38,566,457 and 12,775,000
         respectively, adjusted retroactively to reflect the one for two reverse
         split effective September 1, 1997. The computation of diluted (loss)
         earnings per share of common stock is based on the weighted average
         number of shares and equivalent shares outstanding for the six months
         ended June 30, 2000 and 1999 of 44,452,975, and 12,775,000
         respectively. No potential common shares existed at June 30, 1999;
         therefore, basic loss per share equals diluted loss per share at that
         date.

         PREFERRED STOCK

         The Company, under its articles of incorporation, has the authority to
         issue up to 5,000,000 shares of preferred stock with a par value of
         $.001 each, totaling $5,000. The Board of Directors is authorized to
         provide for the issuance of the shares of preferred stock in series by
         filing a certificate pursuant to the applicable law of the State of
         Delaware, to establish the number of shares to be included in each such
         series, and to fix the designations, powers, preferences, rights and
         limitations of the shares of each series. At June 30, 2000, there were
         no preferred shares issued or outstanding.

         FAIR VALUES OF FINANCIAL INSTRUMENTS

         The following methods and assumptions were used by the Company in
         estimating fair values of financial instruments as disclosed herein:

         CASH AND SHORT-TERM INSTRUMENTS. The carrying amounts of cash and
         short-term instruments approximate their fair value.

         INTEREST BEARING DEPOSITS WITH BANKS. The carrying amounts of interest
         bearing deposits with banks approximate their fair value.

         ACCOUNTS RECEIVABLE. For accounts which are not past due greater than
         90 days and have no significant change in credit risk, fair values are
         based on carrying values.

         NOTES PAYABLE. The Company's notes payable to an unrelated party
         arrangement bears a variable interest rate and represents terms and
         conditions currently available for the same or similar debt facility in
         the marketplace. Thus, the fair value of notes payable approximates the
         carrying amount.

         FEDERAL INCOME TAX RECEIVABLE. The carrying amount of the federal
         income tax receivable approximate their fair value.

<PAGE>

         NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - CONTINUED

         RECENT ACCOUNTING STANDARDS

         In June 1998, SFAS No. 133, ACCOUNTING FOR DERIVATIVE INSTRUMENTS AND
         HEDGING ACTIVITIES was issued. Required adoption of the statement was
         subsequently deferred by SFAS No. 137 until July 1, 2000. SFAS 133
         establishes accounting and reporting standards for derivative
         instruments embedded in other contracts and for hedging activities. The
         Company expects to adopt the standard on July 1, 2000. The adoption of
         the statement is not expected to have a significant impact on the
         financial statements.


         NOTE 2: PRIVATE OFFERINGS OF COMMON STOCK

         The Company offered shares of its common stock, $.001 par value, to a
         limited number of qualified investors in 1993. The company sold 325,000
         shares of common stock, at a price of $.20 per share for a total of
         $65,000. The investors subscribed to a minimum of 1,000 shares. There
         was no minimum offering amount and there was no escrow of any funds
         received from the offering and such funds were utilized by the Company
         as they were received. Proceeds from the offering were used to provide
         working capital to the Company.

         In September and October, 1999, pursuant to the terms of the CLCK/CNG
         Stock Purchase Agreement, CNG Financial Corporation ("CNG") purchased
         24,000,000 shares of common stock of the Company for a purchase price
         of $3,000,000. Pursuant to the CLCK/CNG Stock Purchase Agreement CNG
         was granted a stock option to purchase an additional 10,000,000 shares
         of common stock for the purchase price of $2,000,000, which stock
         option must be exercised by CNG on or before September 16, 2000. All
         such options are vested. The stock option is exercisable in whole, and
         not in part. To date, CNG has purchased a total 34,000,000 shares or
         70.1% of the 48,511,512 shares currently issued and outstanding. CNG is
         currently the Company's principal shareholder and has, as of the date
         of this report, designated four members to the Board of Directors of
         the Company.

         In connection with the CNG transaction the Company issued to Century,
         an affiliate of Messrs. Gallant and Baetz, 1,736,512 shares of common
         stock in consideration of the cancellation of the obligation of
         $434,128 due and payable by the Company to Century.

NOTE 3:  ACQUISITION OF FI-SCRIP

         As of January 1, 1999, the primary shareholders of the Company
         contributed all of the common stock of Fi-Scrip to the Company for no
         consideration. Fi-Scrip became a wholly-owned subsidiary of the Company
         effective January 1, 1999.

<PAGE>

NOTE 4:  CANCELLATION OF CONTRACT AND MANAGEMENT'S PLANS

         On March 4, 1999, the Company received notice that the BestBank credit
         card portfolio held by the FDIC, in which the Company derived
         approximately 84% of its total operating revenue from processing, as
         measured in 1998, was being terminated and the Company's processing
         services on the portfolio were also being terminated.

         The ability of the Company to continue as a going concern is dependent
         on its ability to adjust its operations through the implementation of a
         restructuring plan. The Company is currently developing a plan to
         reduce expenses and secure replacement processing contracts, as
         follows:

         o   The Company has implemented a plan for the reduction of fixed
             operating costs, including restructuring and/or renegotiating
             certain operating lease agreements. This reduction in fixed
             operating costs will be implemented in phases as dictated by the
             economics of the Company's future operations.

         o   The Company is currently working with approximately eight different
             entities, all unaffiliated with the Company, to secure processing
             contracts each representing as little as $30,000 and as much as
             $2,000,000 in additional processing revenue per year. Letters of
             intent and contracts, have been secured for replacement processing
             with revenue estimated to be approximately $2,500,000 in the year
             ended December 31, 2000.

         o   The Company has developed and integrated a marketing plan for
             attracting new business, which includes the signing of a contract
             with one of its major software suppliers, creating an alliance
             between the two entities for the referral of new business.

         o   At June 30, 2000, the Company had cash balances in excess of
             $1,000,000.

NOTE 5:  FINANCIAL INSTRUMENTS

         The estimated fair values of the Company's financial instruments at
         June 30, 2000 were as follows:
<TABLE>
<CAPTION>

                                                                       Carrying           Fair
                                                                        Amount            Value
                                                                     ------------    ------------
           <S>                                                       <C>             <C>
           Financial assets:
                Cash and interest bearing deposits with banks         $ 1,582,571     $ 1,582,571
                Accounts receivable                                     1,060,168       1,060,168

           Financial liabilities:
                Notes payable                                         $   135,403     $   135,403
                Accrued interest payable                                   29,275          29,275
</TABLE>

<PAGE>

NOTE 5:  FINANCIAL INSTRUMENTS - CONTINUED

         The estimated fair values of the Company's financial instruments at
         December 31, 1999 were as follows:
                                                   Carrying           Fair
                                                    Amount            Value
                                                 -------------   -------------

   Financial assets:
       Cash and interest bearing deposits
          with banks                             $   2,634,740   $   2,634,740
       Accounts receivable                             319,079         319,079
   Financial liabilities:
       Notes payable                             $     137,288   $     137,288
       Accrued interest payable                              0               0

   The method(s) and assumptions used to estimate the fair value of financial
   instruments are disclosed in Note 1, "Fair Values of Financial Instruments".

NOTE 6:  INCOME TAXES

         The Company files a consolidated federal income tax return; however,
         federal income taxes are allocated between the Company and its
         subsidiaries based on statutory rates. The consolidated income tax
         expense, as a percentage of pretax earnings, differs from the statutory
         federal income tax rate as follows:

                                                           Six months ended
                                                               June 30,
                                                   -----------------------------

                                                       2000             1999
                                                   ------------     ------------

   Statutory federal income tax rate                   34.00%          34.00%
   Non-deductible expenses                               -              3.37
   Valuation allowance on net operating loss
    carryforwards                                     (34.00)            -
   Other                                                 -              1.44
                                                   ------------     ------------

             Effective income tax rate                   -   %         38.81%
                                                   ============     ============

Income tax expense is comprised of the following:

   Current income tax expense                      $     -         $   60,034
   Deferred income tax expense                           -              8,453
                                                   ------------     ------------

                                                   $     -         $   68,487
                                                   ============    =============

   The tax effects of temporary differences that gave rise to deferred tax
   assets (liabilities) as of June 30, 2000 and December 31, 1999, respectively:

<PAGE>

NOTE 6:  INCOME TAXES - CONTINUED

                                                          2000          1999
                                                    -------------- -------------
  DEFERRED TAX ASSETS

     Net operating loss carryforwards               $   1,293,246   $   863,337
     Other                                                  9,887         7,514
                                                    -------------- -------------

         Total deferred tax assets                      1,303,133       870,851

  DEFERRED TAX LIABILITIES

      Depreciation and amortization                      (100,303)      (97,930)

  Valuation allowance                                    (801,863)     (371,954)
                                                    -------------- -------------

         Net deferred tax asset                     $     400,967   $   400,967
                                                    ============== =============

   At December 31, 1999, the Company had net operating loss carryforwards
   available for federal income tax purposes of approximately $3,500,000, which
   expire in the years 2014 - 2015. Of this amount, management has determined
   that approximately $2,350,000 may not be utilized in future periods.
   Additionally, the Company believes, based on current operating losses, that
   it is more likely than not that the Company will not recover deferred tax
   assets in excess of approximately $400,000. Accordingly, a valuation
   allowance related to the uncertainty of utilization of the net operating loss
   carryforwards has been recorded. The following summarizes the changes in the
   valuation allowance:

                Valuation allowance at January 1, 1999          $       -

                      Additions during 1999                          371,954
                                                                --------------

                Valuation allowance at December 31, 1999             371,954

                      Additions during 2000                          429,909
                                                                --------------

                Valuation allowance at June 30, 2000            $    801,863
                                                                ==============

NOTE 7:  NOTES PAYABLE

   On February 16, 2000, the Company issued a promissory note (the "Promissory
   Note") to CNG Financial Corporation, an affiliate of the Company. The
   Promissory Note, in the principal sum of $500,000, carries an interest rate
   of 11.75% and is due and payable in one installment, together with all
   accrued and unpaid interest thereon, on demand; provided, however, that
   accrued interest shall be payable on March 1, 2000 and on the first day of
   each month thereafter until the debt is paid in full. The outstanding balance
   and accrued interest payable at June 30, 2000 were $500,000 and $4,990,
   respectively.

   FICI has a real estate lien note through American State Bank formerly
   Security State Bank. The real estate note, dated August 1, 1998, in the
   amount of $160,000 carries an annual interest rate of Wall Street prime plus
   1%, with a maturity date of August 1, 2001. The note is secured by a deed of
   trust to a building in which the note proceeds were used to purchase and
   renovate. The outstanding balance on the note as of June 30, 2000 was
   $139,775.

<PAGE>

NOTE 8:  LEASE OBLIGATIONS

         The Company has entered into various operating lease agreements. Under
         terms of an operating lease with IBM Corporation, certificates of
         deposit with a carrying value of $401,000 at June 30, 2000 were pledged
         as collateral against Bank One letters of credit in favor of IBM. Under
         terms of an operating lease with Timmermen Leasing, a certificate of
         deposit with a carrying value of $100,000 at June 30, 2000, was pledged
         as collateral. The future minimum payments for leased property under
         these noncancellable lease agreements for each of the next five years
         (no commitments for leased property extend more than five years) ending
         December 31, 2004 are as follows:

                                     2000               $  678,192
                                     2001                  906,752
                                     2002                  327,233
                                     2003                  120,378
                                     2004                  108,049
                                     2005                   92,904
                                                        ----------

               Lease obligations                        $2,233,508
                                                        ==========

         On August 24, 1999 the Company entered into a new lease for its office
         space, 36,182 square feet, from American State Bank at an annual cost
         of approximately $282,168.

NOTE 9:  MARKET RISK AND CONCENTRATIONS

         For the six months ended June 30, 2000, merchant processing revenue
         through Fi-Scrip and processing fees billed to CNG accounted for
         approximately $191,195 or 24% and $160,684 or 20% of the Company's
         total revenues, respectively. Greater Nevada Credit Union, Logberg and
         American State Bank accounted for approximately $93,570 or 12%, $88,881
         or 11%, and 87,708 or 11%, of the Company's total revenues,
         respectively. No other customers accounted for 10% or more of the
         Company's total revenues.

         For the year ended December 31, 1999, revenue from the Best Bank
         portfolio accounted for approximately $3,064,150 or 59% of the
         Company's total revenues and merchant processing revenue accounted for
         approximately $645,623 or 13% of the Company's total revenues. No other
         customers accounted for 10% or more of the Company's total revenues.
         Since the Best Bank failure in July 1998 the Company continued its role
         as processor for the portfolio accounts through May 17, 1999, in which
         it was receiving payment from the FDIC for its processing costs.

NOTE 10:  RELATED PARTY TRANSACTIONS

         On February 16, 2000 the Company issued an unsecured promissory note
         (the "Demand Promissory Note) to CNG. The Promissory Note, in the
         principal sum of $500,000, carries an interest rate of 11.75% and is
         due and payable on demand in one installment, together with all accrued
         and unpaid interest thereon; provided, however, that accrued interest
         shall be payable on March 1, 2000 and on the first day of each month
         thereafter until the debt is paid in full.

<PAGE>

NOTE 10:  RELATED PARTY TRANSACTIONS - CONTINUED

         On April 21, 2000 the Company and CNG executed a revolving line of
         credit up to a maximum principal amount of $2,000,000 evidenced by a
         convertible promissory note (the "Convertible Promissory Note"). The
         Convertible Promissory Note matured three years from its date of
         issuance and did bear interest at the rate of 11.5% per annum payable
         quarterly. The initial draw under the revolving line of credit was used
         to retire the Demand Promissory Note. The Convertible Promissory Note
         was convertible into 10,000,000 shares of Common Stock based upon the
         conversion rate of principal amount of the Convertible Promissory
         Note/$0.20 per share. The Company also issued two warrants (Warrant A
         and Warrant B) to CNG, which will be exercisable if certain revenue
         targets are met. Warrant A expires April 30, 2001 and may become
         exercisable to purchase a maximum of 2,000,000 shares of Common Stock
         at $.01 per share if the total revenues of Finity are $620,000 or more
         for any month prior to the expiration date of Warrant A. Warrant B
         expires April 30, 2002 and may become exercisable to purchase a maximum
         of 5,000,000 shares of Common Stock at $.01 per share if the total
         revenues of Finity are $1,120,000 or more for any month prior to the
         expiration date of Warrant B. On June 14, 2000 CNG elected to convert
         the Convertible Promissory Note. On June 30, 2000 CNG surrendered the
         Convertible Promissory Note to the Company, and in exchange the Company
         issued to CNG 10,000,000 shares of Common Stock based on the
         outstanding principal balance of $2,000,000 converted at $0.20 per
         share. To date, CNG has purchased a total of 34,000,000 shares or 70.1%
         of the 48,511,512 shares currently issued and outstanding. CNG is
         currently the Company's principal shareholder and has, as of the date
         of this report, designated four members to the Board of Directors of
         the Company.

         The outstanding balance and accrued interest payable at June 30, 2000
         were $0 and $29,275, respectively.

NOTE 11:  STOCK OPTION PLAN

         The Company adopted a stock plan to provide for the granting of options
         to senior management of the Company. As of December 31, 1999, the
         Company has allocated 1,250,000 shares of stock for issuance under the
         plan. On July 1, 1998 and August 6, 1999 the Company granted 316,666
         and 550,000 options, respectively. The options expire five years from
         the date of issuance. On December 24, 1998, the Company amended the
         exercise price of the options previously granted on July 1, 1998.

         The following table shows the vesting schedule and the exercise price,
         as amended, for each of the five current and two former directors
         awarded options on July 1, 1998.

                                     Options vested
                                     --------------
                                                                 Total Options
                     Exercise   July 1,  October 1,   January 1,  Vested and
    Director           Price      1998     1998         1999      Outstanding
    --------           -----      ----     ----         ----      -----------

Glenn M. Gallant       $ .62    16,666    16,667        -           33,333
Douglas R. Baetz       $ .62    16,666    16,667        -           33,333
Kenneth A. Klotz       $ .48    16,666    16,667        16,667      50,000
Charles LaMontagne     $ .48    16,666    16,667        16,667      50,000
Olan Beard             $ .48    16,666    16,667        16,667      50,000
Donald Thone           $ .48    16,666    16,667        16,667      50,000
Robert Feldman         $ .48    16,666    16,667        16,667      50,000
                                                                 -----------
                                                                   316,666
                                                                 ============

<PAGE>

NOTE 11:  STOCK OPTION PLAN - CONTINUED

         The following table shows the vesting schedule and the exercise price
         for each of the five directors awarded options on August 6, 1999.

                                      OPTIONS VESTED
                                                           Total Options
                     Exercise     August 6,   October 22,   Vested and
  Director             Price        1999        1999        Outstanding
  --------             -----        ----        ----        -----------

Kenneth A. Klotz        $ .23      50,000      100,000        150,000
Charles LaMontagne      $ .23      50,000      100,000        150,000
Olan Beard              $ .23      50,000      100,000        150,000
Donald Thone            $ .23      50,000        -             50,000
Robert Feldman          $ .23      50,000        -             50,000
                                                            -----------
                                                              550,000
                                                            ===========

         Messrs. Baetz and Gallant, having greater than 10% of the outstanding
         shares of the Company at July 1, 1998, were granted options with an
         exercise price set at 110% of the fair market value of the Company's
         common stock at the date of the grant. The remaining five directors
         were granted options with an exercise price set at 85% of the fair
         market value of the Company's common stock at the date of the grant. As
         of June 30, 2000 no options under the plan had been exercised

         The 100,000 options granted to each of Messrs. Klotz, LaMontagne and
         Beard on August 6, 1999 and vesting on November 16, 1999, originally
         were to vest over a two year period, beginning with 50,000 vesting on
         August 6, 2000 and 50,000 vesting on August 6, 2001, but were
         accelerated by the change in control of the Company's shareholders on
         October 22, 1999.

         Effective December 7, 1999, Mr. Roland Koch was granted 125,000 options
         to purchase the Company's common stock under the plan, with an exercise
         price of $0.40, 85% of the fair market value of the Company's common
         stock at the date of the grant. The options will vest over a three year
         period beginning December 7, 1999 at a rate of 1/3 each year. As of
         June 30, 2000 Mr. Koch has 41,667 options vested and none have been
         exercised.

         Effective December 7, 1999, Mr. John Courter was granted 25,000 options
         to purchase the Company's common stock under the plan, with an exercise
         price of $0.40, 85% of the fair market value of the Company's common
         stock at the date of the grant. The options are currently vested as of
         December 7, 1999. As of June 30, 2000 Mr. Courter has 25,000 options
         vested and none have been exercised.

         Effective March 27, 2000, Mr. Harvey Wagner was granted 50,000 options
         to purchase the Company's common stock under the plan, with an exercise
         price of $0.27, 85% of the fair market value of the Company's common
         stock at the date of the grant. The options are currently vested as of
         March 27, 2000. As of June 30, 2000 Mr. Wagner has 50,000 options
         vested and none have been exercised.

         Effective March 7, 2000, Mr. Michael R. Waldron was granted 10,000
         options to purchase the Company's common stock under the plan, with an
         exercise price of $0.27, 85% of the fair market value of the Company's
         common stock at the date of the grant. The options vest on the
         following schedule: 1,000 shares vested July 1, 2000; 1,000 shares
         vested March 7, 2001; 1,000 shares vested March 7, 2002; 1,000 shares
         vested March 7, 2003; 6,000 shares will be awarded subject to
         management discretion based upon agreed to performance measures As of
         June 30, 2000 Mr. Wagner has 0 options vested.

<PAGE>

NOTE 11:  STOCK OPTION PLAN - CONTINUED

         The Company accounts for the options in accordance with Accounting
         Principles Board Opinion No. 25, ACCOUNTING FOR STOCK ISSUED TO
         EMPLOYEES, under which compensation cost is recognized for the
         difference in the option's exercise price and the fair market value of
         the stock as of the date of each grant over the vesting period. The
         effect of further compensation cost for the plan, had it been included
         in the income statement as provided for in SFAS No. 123, ACCOUNTING FOR
         STOCK-BASED COMPENSATION, would have resulted in an insignificant
         reduction to the Company's net earnings and earnings per share on a pro
         forma basis, based on estimates using an accepted options pricing
         model.


NOTE 12:  CONDENSED FINANCIAL INFORMATION - PARENT COMPANY

         The following represents consolidated financial information of the
         parent company as of and for the six months ended June 30, 2000 and as
         of and for the year ended December 31, 1999 utilizing the equity method
         of accounting.
<TABLE>

         CONDENSED BALANCE SHEET:
<CAPTION>

                                              ASSETS                June 30,      December 31,
                                                                      2000             1999
                                                                  ------------    ------------
               <S>                                                <C>             <C>
               Current assets
                  Cash and cash equivalents                       $        20         $     -
                  Prepaid expenses and other assets                    17,500          36,820
                  Federal income tax receivable                             -               -
                  Due from subsidiaries                             3,731,454       1,920,928
                                                                  ------------    ------------
                    Total current assets                            3,748,974       1,957,748

               Other assets
                  Deferred tax asset                                   17,637          17,637
                  Other investments                                    90,000          90,000
                  Investment in subsidiaries                       (1,676,342)        792,635
                                                                  ------------    ------------
                    Total other assets                             (1,568,705)        900,272
                                                                  ------------    ------------

                  TOTAL ASSETS                                    $ 2,180,269     $ 2,858,020
                                                                  ============    ============


                               LIABILITIES AND SHAREHOLDERS' EQUITY

               LIABILITIES
                  Accrued expenses and other liabilities          $    63,878     $    90,562
                  Due to subsidiaries                                       -               -
                                                                  ------------    ------------
                    Total current liabilities                          63,878          90,562

               SHAREHOLDERS' EQUITY
                  Common stock                                         48,512          38,512
                  Capital surplus                                   7,881,096       5,891,096
                  Accumulated deficit                              (5,813,217)     (3,162,150)
                                                                  ------------    ------------
                    Total shareholders' equity                      2,116,391       2,767,458
                                                                  ------------    ------------

                  TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY      $ 2,180,269     $ 2,858,020
                                                                  ============    ============
</TABLE>
<PAGE>

<TABLE>

NOTE 12:  CONDENSED FINANCIAL INFORMATION - PARENT COMPANY - CONTINUED
<CAPTION>

                                                                     June 30,     December 31,
                                                                      2000           1999
                                                                  ------------    ------------
           <S>                                                    <C>             <C>
           CONDENSED STATEMENT OF OPERATIONS:

           REVENUES
              Undistributed loss of subsidiaries                  $(2,468,977)    $(2,722,064)

           EXPENSES
              Stockholder costs and fees                                  582           5,115
              Professional and outside services                       171,659         405,584
              Marketing                                                 6,012         106,987
              Other operating                                           3,837           2,503
                                                                  ------------    ------------
                Total operating expenses                              182,090         520,189

              Compensation to directors                                     -          10,000
                                                                  ------------    ------------
                Total other expense                                         -          10,000
                                                                  ------------    ------------

           LOSS BEFORE FEDERAL INCOME TAX                          (2,651,067)     (3,252,253)
              Income tax benefit                                           (-)        (20,636)
                                                                  ------------    ------------
           Net loss                                               $(2,651,067)    $(3,231,617)
                                                                  ============    ============

           CONDENSED STATEMENT OF CASH FLOWS:

           CASH FLOWS FROM OPERATING ACTIVITIES
              Net loss                                            $(2,651,067)    $(3,231,617)
              Adjustments to reconcile net loss
                to net cash provided by operations
                      Undistributed loss in subsidiaries            2,468,977       2,722,063
                      Iincrease in receivables                     (1,810,526)     (1,338,319)
                      Decrease in prepaid
                            expenses and other assets                  19,320          51,543
                      Decrease in accruals
                            and accounts payable                      (26,684)     (1,565,859)
                                                                  ------------    ------------
              Net cash used by operating activities                 (1,999,980)    (3,362,189)

              CASH FLOWS FROM INVESTING ACTIVITIES

                Other investments                                           -         (90,000)
                                                                  ------------    ------------
              Net cash used by investing activities                         -         (90,000)

              CASH FLOWS FROM FINANCING ACTIVITIES

                Proceeds from line of credit, net of payments               -         451,128
                Issuance of common stock                            2,000,000       3,000,000
                                                                  ------------    ------------
              Net cash provided by financing activities             2,000,000       3,451,128

           NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS            20          (1,061)
           Cash and cash equivalents at beginning of year                   -           1,061
                                                                  ------------    ------------

           CASH AND CASH EQUIVALENTS AT END OF PERIOD             $        20     $         -
                                                                  ============    ============
</TABLE>



<PAGE>

NOTE 13:  CONSULTING AGREEMENTS

         On March 20, 1998, the Company entered into a consulting agreement with
         Worldwide Corporate Finance (Worldwide). Worldwide, through its
         individual affiliate, Michael Markow, provided the Company with
         consulting services, including long-term business, managerial and
         financial planning; investigating and analysis in corporate
         reorganizations and expansion in merger and acquisition opportunities;
         and the introduction of business opportunities for credit card
         processing services. As compensation for services, the Company granted
         to Mr. Markow options to purchase up to 700,000 shares of Common Stock,
         at varying prices between $0.95 and $1.70, which are the subject of a
         currently effective registration statement. The fair value of the
         options granted approximated the value of the services provided by Mr.
         Markow and has been recognized as a component of consulting fees in the
         consolidated income statement.

         In February 1999, the Company's management and Mr. Markow reached an
         agreement to terminate the existing consulting agreement between the
         Company and Worldwide. In settlement the Company agreed to allow Mr.
         Markow to exercise 10,000 additional options to purchase an equal
         number of shares of the Company's Common Stock at $1.70 per share
         resulting in a transaction valued at $17,000. Additionally the Company
         agreed to pay Mr. Markow $15,000 in cash and terminate the remaining
         unexercised balance of options initially granted to Mr. Markow and
         Worldwide under the consulting agreement. The Company does not expect
         to enter into any additional consulting agreements with Mr. Markow or
         Worldwide in the future. Mr. Markow and Worldwide had exercised a total
         of 275,000 options valued at $298,750 under the former consulting
         agreement. As of the date of this report there are no remaining options
         outstanding related to the former consulting agreement with Mr. Markow
         and Worldwide.

         The fair value of the options granted approximate the value of the
         services provided by Mr. Markow and has been recognized as a component
         of consulting fees in the income statement over the term of the
         agreement.

         On July 1, 1998, Columbia Capital Corp. entered into a consulting
         agreement with Matthias and Berg, LLP ("the Firm"). The Firm, through
         its partner, Jeffrey Berg, provides the Company with consulting and
         litigation services, including long term business, managerial and
         financial litigation support; investigating and analysis in corporate
         reorganizations and legal expertise on merger and acquisition
         opportunities. As compensation for services, the Company granted to the
         Firm options to purchase up to 100,000 shares of Common Stock, which
         are the subject of a currently effective registration statement, on the
         following terms and conditions: (i) options to purchase up to 100,000
         shares of Common Stock at an exercise price of $0.48 per share,
         exercisable from July 1, 1998. The fair value of consulting and
         litigation services provided by the Firm is being recognized as the
         services are provided. As of June 30, 2000 no options have been
         exercised under the agreement.


NOTE 14:  STOCK PURCHASE AGREEMENT

         On September 16, 1999, pursuant to the terms of an Agreement for
         Purchase of Stock, dated as of September 16, 1999, and as amended as of
         December 31, 1999 (the CLCK/CNG Stock Purchase Agreement), by and
         between the Company and CNG, an Ohio corporation (CNG), CNG purchased
         4,000,000 shares of common stock of the Company for a purchase price of
         $500,000. CNG is a holding company of subsidiaries which provide
         consumer financial services. CNG is based in Mason, Ohio.

<PAGE>

NOTE 14:  STOCK PURCHASE AGREEMENT - CONTINUED

         On October 22, 1999, CNG obtained a controlling interest in the
         Company, when pursuant to the terms of the CLCK/CNG Stock Purchase
         Agreement, CNG acquired an additional 20,000,000 shares of common stock
         (the Second Installment) for a purchase price of $2,500,000 (the Second
         Installment Payment). On June 14, 2000 CNG elected to convert a
         Convertible Promissory Note. On June 30, 2000 CNG surrendered the
         Convertible Promissory Note to the Company, and in exchange the Company
         issued to CNG 10,000,000 shares of Common Stock based on the
         outstanding principal balance of $2,000,000 converted at $0.20 per
         share. CNG controls in excess of a majority of the issued and
         outstanding voting securities of the Company, able to elect all of the
         directors of the Company and effectively control the Company's affairs.
         To date, CNG has purchased a total of 34,000,000 shares or 70.1% of the
         48,511,512 shares currently issued and outstanding. CNG is currently
         the Company's principal shareholder and has, as of the date of this
         report, designated four members to the Board of Directors of the
         Company.

         The Company has been advised by CNG that the source of payment for the
         purchase of the 34,000,000 shares was from the working capital line of
         credit provided by CNG's credit facility lenders.

         The CLCK/CNG Stock Purchase Agreement also provides that CNG shall be
         granted a Non-Qualified Stock Option (Stock Option) to purchase an
         additional 10,000,000 shares of common stock for the purchase price of
         $2,000,000 (the Third Installment Payment), which Stock Option must be
         exercised by CNG on or before September 16, 2000. The Stock Option is
         exercisable in whole, and not in part.

         Following the issuance of the 30,000,000 shares to CNG and being
         entitled to exercise the Stock Option with respect to the additional
         10,000,000 shares, CNG will beneficially own 44,000,000 shares of
         common stock, or 75.2% of the assumed issued and outstanding common
         stock (58,511,512 shares issued and outstanding for purposes of
         calculating the percentage of beneficial ownership).

         In connection with the CLCK/CNG Stock Purchase Agreement, the Company
         entered into a stock purchase agreement (the CLCK/Century Stock
         Purchase Agreement), dated as of September 16, 1999, with Century
         Financial Group, Inc., a Florida corporation (Century). Century is an
         affiliate of two of the Company's principal stockholders, Douglas R.
         Baetz and Glenn M. Gallant. Century and Messrs. Baetz and Gallant are
         not affiliated with CNG. Under the terms and conditions of the
         CLCK/Century Stock Purchase Agreement, Century purchased 1,736,512
         shares of common stock of the Company in consideration of the
         cancellation of the obligation of $434,128 due and payable by the
         Company to Century.

NOTE 15:  BAYTREE SETTLEMENT

         On June 30, 1998, the Company, FICI, Douglas R. Baetz and Glenn M.
         Gallant filed a complaint (the Complaint) in the United States District
         Court for the Southern District of Florida (Case No. 98-6701) against
         Baytree., Michael Gardner (Gardner), certain former officers and
         directors of the Company, and certain other parties. The complaint
         alleges claims against the named defendants, including fraud,
         securities fraud and breach of fiduciary duty, in connection with the
         transactions related to the Stock Purchase Agreement, entered into as
         of September 23, 1997, among the Company, FICI, and Messrs. Gallant and
         Baetz.

<PAGE>

NOTE 15:  BAYTREE SETTLEMENT - CONTINUED

         The complaint seeks relief against the named defendants, including
         monetary damages relating to improper sales of shares of common stock
         into the public market by the named defendants and the cancellation of
         the shares of common stock issued by the Company to Baytree for
         services rendered for arranging the transactions which are the subject
         of the Stock Purchase Agreement. On September 16, 1999, Baytree and
         Gardner filed an answer to the Complaint, denying the claims and
         asserting counterclaims against the Company and affiliates. On
         September 29, 1999, the Company, FICI, Douglas R. Baetz, Glenn M.
         Gallant, Baytree and Gardner entered into a settlement agreement. Under
         the terms of the settlement agreement each party has agreed to drop the
         complaints against each of the other parties. Additionally, under terms
         of the settlement agreement Baytree/Gardner agreed to sell their
         holdings of 400,000 restricted shares of the Company's common stock to
         an unaffiliated third party. The Company views the settlement as
         favorable to the interests of the Company and other shareholders.

NOTE 16:  IMPAIRMENT OF GOODWILL

         Based on circumstances and events which occurred during the year ended
         December 31, 1999, which includes the termination of the Master
         Agreement related to the BestBank portfolio (Note 6) and a change in
         control of the Company's principal shareholders (Note 18), management
         of the Company has determined that the significant tangible and
         intangible assets acquired in the purchase of FICI in 1997, no longer
         exist or have been fully depreciated and that the related goodwill is
         fully impaired. Accordingly, the balance of goodwill was written off at
         December 31, 1999, resulting in a non- recurring charge of $844,066
         reflected in the Statement of Operations under the caption other
         expense.

NOTE 17:  AMENDMENT OF CERTIFICATE OF INCORPORATION

         Effective March 1, 2000, FICI amended its certificate of incorporation
         effectively changing its name to Finity Corporation. This amendment
         will not affect current operations of the Company.

NOTE 18:  EMPLOYEE BENEFIT PLAN

         The Company and its subsidiaries have an employee benefit plan covering
         substantially all employees. The plan is a qualified salary reduction
         plan under Section 401(k) of the Internal Revenue Code, which allows
         deferral of compensation, effective January 1, 1998. Under this plan,
         the Company's annual contribution is at the discretion of the Company's
         Board of Directors and cannot exceed fifteen (5%) of eligible
         compensation. The Company contributed $0 and $74,739 to the plan as of
         June 30, 2000 and December 31, 1999, respectively.

<PAGE>



<PAGE>

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.

This report, including the disclosures below, contains certain forward-looking
statements that involve substantial risks and uncertainties. Unless the context
otherwise requires, the term "Company" refers to Finity Holdings, Inc., formerly
known as Columbia Capital Corp. and its wholly-owned subsidiaries, Finity
Corporation, a Texas corporation ("Finity") and Fi-Scrip, Incorporated, a Nevada
corporation ("Fi-Scrip"), through which the Company principally conducts its
business operations. When used herein, the terms "anticipates," "expects,"
"estimates," "believes" and similar expressions, as they relate to the Company
or its management, are intended to identify such forward-looking statements. The
Company's actual results, performance or achievements may differ materially from
those expressed or implied by such forward-looking statements. Factors that
could cause or contribute to such material differences include inability to
replace lost business, inability to generate sufficient additional capital,
consolidation of banks and other financial institutions, government regulation,
competition and various other factors discussed in this report and in the
Company's Annual Report on Form 10-KSB for the year ended December 31, 1999.

OVERVIEW OF PRESENTATION

The following should be read in conjunction with the Consolidated Financial
Statements of Finity Holdings, Inc. formerly known as Columbia Capital Corp., a
Delaware corporation (the "Company"), and the related notes thereto, contained
elsewhere in this report.

The Company was organized under the laws of the State of Delaware on February 5,
1993. The Company operates through its wholly-owned subsidiaries, Finity,
formerly known as First Independent Computers, Inc. ("FICI"), a Texas
corporation and Fi-Scrip. FICI changed its name to Finity by amendment to its
articles of incorporation effective March 1, 2000. The amendment was implemented
as part of management's strategic marketing plan and is not expected to have an
immediate affect on the operations of the subsidiary. Unless stated otherwise,
the Company, Finity and Fi-Scrip shall hereinafter be referred to collectively
as the Company.

The Company has included in this Report the unaudited consolidated financial
statements of the Company for the six (6) months ended June 30, 2000 and 1999,
which include the consolidated balance sheets of the Company as of June 30, 2000
(unaudited) and December 31, 1999 (audited), and the related consolidated income
statements and statements of changes in shareholders' equity and cash flows for
the six (6) month periods ended June 30, 2000 and 1999.

RESULTS OF OPERATIONS FOR THE SIX (6) MONTHS ENDED JUNE 30, 2000 AND 1999

Total operating revenues for the six months ended June 30, 2000 decreased
approximately 73% to $1,134,313 from $4,268,989 for the six months ended June
30, 1999. Total operating revenues principally include (i) credit card
processing revenues, (ii) mail operations and (iii) merchant processing
revenues.

Credit card processing revenues during the six months ended June 30, 2000
decreased 83% to $600,830 from $3,516,332 during the six months ended June 30,
1999. This decrease primarily relates to the loss of the revenues associated
with the processing contract (the "Master Agreement") with BestBank of Boulder,
Colorado ("BestBank") which was terminated by the Federal Deposit Insurance
Corporation ("FDIC") on March 4, 1999.

<PAGE>

Mail operations revenues during the six months ended June 30, 2000 decreased to
$22,498 from $173,520. This decrease related to the expiration of the Company's
processing arrangements with American State Bank during 1999 and the loss of the
revenues associated with the processing contract (the "Master Agreement") with
BestBank of Boulder, Colorado ("BestBank") which was terminated by the Federal
Deposit Insurance Corporation ("FDIC") on March 4, 1999.

Merchant processing revenue was $510,692 and $356,691 for the six months ended
June 30, 2000 and 1999, respectively. Merchant processing revenue is from the
Company's subsidiary Fi-Scrip, which was consolidated into the Company as of
January 1, 1999 and has experienced significant growth in Electronic Benefits
Transfer transactions throughout 1999 and the first half of 2000.

Total operating expenses during the six months ended June 30, 2000 decreased 29%
to $3,751,948 from $5,301,286 during the six months ended June 30, 1999. Total
operating expenses principally include: (i) cost of salaries and employee
benefits, (ii) equipment and software expenses, (iii) professional and outside
services, as follows:

Cost of salaries and employee benefits during the six months ended June 30, 2000
decreased 12% to $1,516,377 from $1,715,292 during the six months ended June 30,
1999. This decrease primarily resulted from a decrease of approximately 16 full
time employees through attrition. The Company generally did not replace those
employees that left and worked to consolidate job responsibilities among fewer
employees.

Equipment and software expenses during the six months ended June 30, 2000
decreased 41% to $864,224 from $1,475,727 during the six months ended June 30,
1999. This decrease primarily related to the Company renegotiating terms of its
software lease with PaySys.

Cost of professional and outside services during the six months ended June 30,
2000 decreased 44% to $253,722 from $453,929 during the six months ended June
30, 1999. The decline in professional and outside services expense from 1999
resulted from a decline in the Company's legal and accounting fees.

Further, certain miscellaneous operating expenses, including insurance, postage
and delivery fees, and franchise use and sales taxes, during the six months
ended June 30, 2000, decreased 52% to $305,799 from $632,659 during the six
months ended June 30, 1999. These decreases resulted primarily from no bad debt
being recorded during 2000 versus bad debt being recorded during the first
quarter of 1999 related to uncollected processing fees on the former BestBank
portfolio.

Other income and expenses resulted in net expenses of $33,432 and $25,262 for
the six months ended June 30, 2000 and 1999, respectively. Other income and
expenses consist of interest income of $20,136 offset by interest expenses of
$53,568 for the six months ended June 30, 2000. Other income and expenses
consist of interest income of $24,060 offset by interest expenses of $49,322 for
the six months ended June 30, 1999.

As a result of the foregoing, the Company generated net loss of $2,651,067
during the six months ended June 30, 2000, as compared to a net loss of
$1,057,559 during the six months ended June 30, 1999. The losses primarily
resulted from a decline in revenue from credit card processing related to the
termination of the Master Agreement.

<PAGE>

LIQUIDITY AND CAPITAL RESOURCES

At June 30, 2000, the ratio of current assets to current liabilities was 1.3 to
1 as compared to 1.45 to 1 at December 31, 1999.

The Company's cash flow needs for the six months ended June 30, 2000 were
primarily provided from capital injections and borrowings related to the
agreements between the Company and its principal shareholder, CNG Financial
Corporation ("CNG"). The Company's cash flow needs for the six months ended June
30, 1999 were primarily provided from operations. At June 30, 2000 and December
31, 1999, $20,000 of unallocated reserve for bad debt was carried by the
Company. At June 30, 2000, prepaid expenses were $377,967 and are anticipated to
be expensed as used in the future. Net property and equipment was $1,046,300 at
June 30, 2000. There were no major capital additions during the six months ended
June 30, 2000.

The termination of the Master Agreement, which eliminated approximately 84% of
the Company's monthly revenues from processing, as measured during 1998, has had
a material adverse affect on the Company's results of operations during the six
months ended June 30, 2000 and the year ended December 31, 1999, and is
anticipated to have a material adverse effect on the Company's results of
operations during the near future unless and until the Company rebuilds and
replaces its revenue sources.

Management of the Company hopes the Company will be able to replace the loss of
revenue from the Master Agreement and is currently working to negotiate new
business to offset such loss. Management is continuing to work to strategically
reduce operating costs in an effort to streamline the Company's operations while
maintaining the integrity of systems and the overall ability of the Company to
move swiftly and effectively to implement new business.

On September 16, 1999, Finity effectively terminated an eight hundred thousand
dollars ($800,000) unsecured operating line of credit through Century Financial
Group, Inc. ("Century"). Finity agreed to offset $576,352 in accounts receivable
from Century to Finity against the $827,921 balance of the line of credit, which
included $27,921 in accrued interest payable, and through the Company, issued
1,006,276 shares of Common Stock in consideration of the cancellation of the
remaining $251,569 balance of the line of credit. The line of credit carried an
annual percentage rate of ten percent (10%). Under the terms of the line of
credit, Finity paid interest on a monthly basis with the unpaid principal due at
maturity, September 15, 1999.

On September 16, 1999, Fi-Scrip effectively terminated an operating line of
credit through Century. The Company agreed to issue 730,236 shares of Common
Stock in consideration of the cancellation of the $182,559 balance of the line
of credit, including $6,604 in accrued interest payable. The line of credit,
dated May 1, 1998, with Century provided Fi-Scrip with a maximum operating line
of credit of two hundred and fifty thousand dollars ($250,000). The note carried
an annual percentage rate of ten percent (10%). Under the terms of the note,
Fi-Scrip paid interest on a monthly basis with the unpaid principal due on
demand.

In September and November, 1999, pursuant to the terms of a stock purchase
agreement between CNG and the Company (the "CLCK/CNG Stock Purchase Agreement"),
CNG purchased 24,000,000 shares of Common Stock for a purchase price of
$3,000,000. Pursuant to the CLCK/CNG Stock Purchase Agreement, CNG was granted
an option (the "CNG Stock Option") to purchase an additional 10,000,000 shares
of Common Stock for the purchase price of $2,000,000. CNG has agreed to exercise
the CNG Stock Option at any time that the Company indicates a need for these
funds for operations. However, no assurance can be given that CNG will exercise
the CNG Stock Options when called upon to do so.

<PAGE>

In connection with the CLCK/CNG Stock Purchase Agreement, the Company entered
into the CLCK/Century Stock Purchase Agreement, dated as of September 16, 1999,
with Century. Under the terms and conditions of the CLCK/Century Stock Purchase
Agreement, Century purchased 1,736,512 shares of Common Stock of the Company in
consideration of the cancellation of the obligation of $434,128 due and payable
by the Company to Century.

On February 16, 2000, the Company entered into a promissory note (the "Demand
Promissory Note") payable to CNG in consideration of $500,000. The Note was due
and payable on demand with accrued interest due and payable monthly at a rate of
11.75%. On April 21, 2000 the Company and CNG executed a revolving line of
credit up to a maximum principal amount of $2,000,000 evidenced by a convertible
promissory note (the "Convertible Promissory Note"). The Convertible Promissory
Note had a scheduled maturity date of three years from its date of issuance and
an interest rate of 11.5% per annum payable quarterly. The initial draw under
the revolving line of credit was used to retire the Demand Promissory Note. The
Convertible Promissory Note was convertible into 10,000,000 shares of Common
Stock based upon the conversion rate of principal amount of the Convertible
Promissory Note/$0.20 per share. On June 14, 2000 CNG elected to convert the
Convertible Promissory Note. On June 30, 2000 CNG surrendered the Convertible
Promissory Note to the Company in exchange for 10,000,000 shares of Common Stock
based on the outstanding principal balance of $2,000,000 converted at $0.20 per
share.

The Company has also issued two warrants (Warrant A and Warrant B) to CNG, which
will be exercisable if certain revenue targets are met. Warrant A expires April
30, 2001 and may become exercisable to purchase a maximum of 2,000,000 shares of
Common Stock at $.01 per share if the total revenues of Finity are $620,000 or
more for any month prior to the expiration date of Warrant A. Warrant B expires
April 30, 2002 and may become exercisable to purchase a maximum of 5,000,000
shares of Common Stock at $.01 per share if the total revenues of Finity are
$1,120,000 or more for any month prior to the expiration date of Warrant B.

The outstanding balance and accrued interest payable at June 30, 2000 were $0
and $29,275, respectively. The proceeds of the note were used for operations of
the Company.

Cash and cash equivalents were $1,081,571 as of June 30, 2000, as compared to
$2,133,740 at December 31, 1999. This decrease was primarily attributable to the
Company working to keep its accounts payable current.

As of June 30, 2000 and December 31, 1999, the Company's long-term borrowings
were $122,348 and $124,847, respectively. Long-term borrowings consisted of the
note payable to American State Bank, less the current portion of the note
payable.

As of June 30, 2000, the Company had short-term borrowings in the aggregate
amount of $13,055, as compared to $12,441 at December 31, 1999.

In October, 1997, the Company entered into a 36-month equipment lease with IBM
related to the Company's credit card processing operations. The Company upgraded
the equipment lease in March, 1998 to provide for continued increases in the
Company's processing volume and efficiencies, and expansion of business
operations. The Company financed the lease agreement by the pledge of
certificates of deposit in the aggregate amount of $501,000.

The certificates of deposit are for one-year terms and are automatically
renewable for an additional year. The certificates of deposit bear varying rates
of interest based on the date of the establishment of the certificates of
deposit.

<PAGE>

Net cash (used in) provided by operating activities was $(3,045,317) and
$459,984 for the six months ended June 30, 2000 and 1999, respectively. Net cash
used by operations during the six months ended June 30, 2000 primarily consisted
of net losses from operations and decreases in accruals and accounts payable.
Net cash provided by operations during the six months ended June 30, 1999
primarily consisted of net loss from operations, offset by increases in accruals
and accounts payable and deferred income taxes, decreases in accounts
receivable, deposits and prepaid expenses and depreciation and amortization.

Net cash used in investing activities was $4,967 and $111,833 for the six months
ended June 30, 2000 and 1999, respectively. In the six months ended June 30,
2000, the Company utilized $4,967 to purchase certain fixed assets. In the six
months ended June 30, 1999, the Company utilized $111,833 to purchase certain
fixed assets.

Net cash provided by financing activities was $1,998,115 and $697,163 for the
six months ended June 30, 2000 and 1999, respectively. In the six months ended
June 30, 2000, the Company received proceeds of $2,000,000 from the issuance of
common stock less payments made on the note payable to American State Bank. For
the six months ended June 30, 1999, the Company drew $266,947 on the Line of
Credit with Century, net of payments, received proceeds of $17,000 from the
issuance of common stock and benefited from $413,216 in cash and cash
equivalents related to the acquisition of Fi-Scrip.


PART II - OTHER INFORMATION


ITEM 2.  CHANGES IN SECURITIES AND USE OF PROCEEDS


         (c) On June 30, 2000 CNG converted a Convertible Promissory Note in the
principal amount of $2,000,000 in exchange for 10,000,000 shares of Common Stock
based on a conversion rate of $0.20 per share. The issuance of the Common Stock
was exempt under Sections 3(a)(9) and 4(2) of the Securities Act of 1933 since
the Common Stock was exchanged exclusively with CNG, the sole holder of the
Convertible Promissory Note, and no commission or other remuneration was paid or
given directly or indirectly for soliciting such exchange.


ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         (c) On June 20, 2000, the Company held its annual meeting. The
following is a brief description of the matters voted upon at the meeting.

         (1) The following table lists the nominees who were elected as
directors of the Company and the votes cast for, and withheld from, the election
of such directors. All of the nominees were elected without opposition.

<PAGE>

    NAME                 SHARES VOTED        SHARES VOTED        SHARES
    ----                     FOR               AGAINST         ABSTAINED
                         -----------------------------------------------
Kenneth A. Klotz           25,458,978            2,000           20,530

Olan Beard                 25,458,978            2,000           20,530

Robert M Feldman           25,460,978                            20,530

Donald L. Thone            25,460,978                            20,530

Jared Davis                25,460,978                            20,530

A. David Davis             25,460,978                             20,530

Allen L. Davis             25,460,978                            20,530

Roland Koch                25,460,978                            20,530

Harvey A. Wagner           25,460,978                            20,530


         (2)      The adoption and approval of an amendment to the Restated
                  Certificate of Incorporation to (a) increase the authorized
                  shares of Common stock from 50,000,000 to 100,000,000, and (b)
                  change the name of the Company to Finity Holdings, Inc.. There
                  were 25,428,478 votes cast for, and 34,030 votes cast against
                  the amendment. There were 19,000 abstentions and 0 broker
                  non-votes.

         (3)      The adoption of the Company's 2000 Stock Option Plan (the
                  "2000 Stock Option Plan") and to reservation of 4,000,000
                  shares of the Company's Common Stock for issuance under the
                  2000 Stock Option Plan. There were 24,163,429 votes cast for,
                  and 37,330 votes cast against the adoption of the 2000 Stock
                  Option Plan. There were 19,000 abstentions and 1,261,749
                  broker non-votes.

         (4)      The ratification of the appointment of Davis Kinard & Co.
                  P.C., Certified Public Accountants, as independent public
                  accountants for the Company for the year ending December 31,
                  2000. There were 25,456,778 votes cast for, and 24,730 votes
                  cast against the ratification. There were 0 abstentions and 0
                  broker non-votes.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.

(a)  Exhibits

         27.  Financial Data Schedule

Reports on Form 8-K

         None

<PAGE>


                                   SIGNATURES

In accordance with the requirements of the Securities and Exchange Act of 1934,
the registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

COLUMBIA CAPITAL CORP.


Dated: August 14, 2000                      By:  /s/ Kenneth A. Klotz
                                                 ---------------------------
                                                     Kenneth A. Klotz
                                                     President


Dated:  August 14, 2000                     By:  /s/ Charles La Montagne
                                                 ---------------------------
                                                     Charles La Montagne
                                                     Chief Financial Officer